Ares Management Co. (NYSE:ARES) Given Consensus Rating of “Buy” by Brokerages

Shares of Ares Management Co. (NYSE:ARESGet Rating) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $95.00.

A number of analysts have commented on ARES shares. Zacks Investment Research downgraded Ares Management from a “buy” rating to a “hold” rating in a research report on Tuesday, March 29th. UBS Group raised their price objective on Ares Management from $85.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, February 14th. Wells Fargo & Company reduced their price objective on Ares Management from $94.00 to $92.00 and set an “overweight” rating for the company in a research report on Tuesday, April 19th. Morgan Stanley reduced their price objective on Ares Management from $93.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 20th. Finally, BMO Capital Markets raised their target price on Ares Management from $90.00 to $97.00 and gave the stock an “outperform” rating in a research report on Monday, February 14th.

Shares of NYSE ARES opened at $70.46 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 34.54, a P/E/G ratio of 0.79 and a beta of 1.06. The business’s 50-day simple moving average is $74.07 and its 200-day simple moving average is $77.09. Ares Management has a 52 week low of $54.52 and a 52 week high of $90.08.

Ares Management (NYSE:ARESGet Rating) last announced its earnings results on Thursday, April 28th. The asset manager reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.02). Ares Management had a net margin of 9.28% and a return on equity of 14.53%. The business had revenue of $715.00 million for the quarter, compared to the consensus estimate of $605.10 million. During the same quarter in the previous year, the company earned $0.46 EPS. Ares Management’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that Ares Management will post 3.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be given a $0.61 dividend. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $2.44 annualized dividend and a dividend yield of 3.46%. Ares Management’s dividend payout ratio is currently 119.61%.

In other news, CEO Michael J. Arougheti sold 26,879 shares of the business’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $85.06, for a total value of $2,286,327.74. Following the sale, the chief executive officer now directly owns 990,609 shares in the company, valued at $84,261,201.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ares Capital Management Ii Llc purchased 3,000,000 shares of the business’s stock in a transaction dated Friday, April 1st. The stock was purchased at an average price of $25.00 per share, for a total transaction of $75,000,000.00. The disclosure for this purchase can be found here. 49.34% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC increased its position in Ares Management by 4.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 3,873 shares of the asset manager’s stock worth $315,000 after buying an additional 149 shares during the last quarter. Vontobel Holding Ltd. increased its position in Ares Management by 1.6% during the first quarter. Vontobel Holding Ltd. now owns 10,484 shares of the asset manager’s stock worth $852,000 after buying an additional 167 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its position in Ares Management by 1.4% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 12,742 shares of the asset manager’s stock worth $1,036,000 after buying an additional 170 shares during the last quarter. Veritable L.P. increased its position in Ares Management by 4.6% during the first quarter. Veritable L.P. now owns 4,384 shares of the asset manager’s stock worth $356,000 after buying an additional 191 shares during the last quarter. Finally, Leavell Investment Management Inc. increased its position in Ares Management by 1.1% during the fourth quarter. Leavell Investment Management Inc. now owns 19,140 shares of the asset manager’s stock worth $1,556,000 after buying an additional 200 shares during the last quarter. 47.42% of the stock is currently owned by institutional investors and hedge funds.

About Ares Management (Get Rating)

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.

Featured Articles

Analyst Recommendations for Ares Management (NYSE:ARES)

Receive News & Ratings for Ares Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management and related companies with MarketBeat.com's FREE daily email newsletter.